Equities remain stuck, any renewed strength this afternoon will offer the bull maniacs a daily close in the sp'1900s, which will open up the 1920/50 zone. VIX remains significantly lower, -10% in the mid 19s.
Seen in the smaller 15min cycle, we're clearly stuck at the Friday high.
As ever, it won't take much of a kick to start hitting short-stops.. and if that is the case... then another 2-3% higher seems probable... as depressing as that is.
Regardless, no bounce will do anything to negate the critical damage that has been to the giant monthly cycles.
Notable weakness, coal miners, BTU -5%.. sub $10s seem likely... which would lead to $5
2.29pm The break to sp'1900, no doubt rattling some out there. With VIX -13%.. in danger of losing the 19s. That makes for one hell of a decline from 31s last Wednesday.